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Category: Credit

Erase Credit Card Debt

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If someone could figure out a way to erase credit card debt legally, quickly and without having to file for bankruptcy or some other such thing, they would make a fortune. However, I don’t see this happening very soon. Getting into debt is so easy and almost fun for a while. But when those bills start to roll in, things don’t seem so fun anymore.

You have several options when you want to erase credit card debt. You can go the slow, less life-damaging way and go with consolidation. It could take years to erase credit card debt this way, but you will learn a lot about your finances this way and will likely be more responsible because of it. However, you can also file for Chapter 7 bankruptcy This is a way to instantly get rid of all obligations to pay your debts.


Erase Credit Card Debt Fast and Legally

You will have to really weigh your options here, however. Yes, you will be eliminating your debt, but you will also be setting yourself up to get awful rates for the next six to ten years. Every time you want to rent, own a new home, buy an appliance or do some home renovation, you will be subject to a credit check, they will see your big red flag, and you will either be turned down or get horrible rates.

If you do decide to file bankruptcy, however, and erase debt that way, there are a few things you will want to avoid. Each creditor can challenge your file. They are more likely to do so if you have suspicious activity with your card. These can be things like increased usage of the card previous to filing, recent use for vacations, exceeding the credit limit, using the card when unemployed or a large balance at the time of filing. Just be aware of what is going on with your debts first.


For Sale By Owner

When a home is for sale by owner, there is always the possibility that the owner wants to provide financing for the home. How this works is the owner assumes the same role that traditionally a bank or mortgage company fills. For sale by owner situations can help the seller save commission costs and offer buyers with difficulty obtaining a bank loan an opportunity to purchase a new home.

For whatever reason, many people who want to buy a home have difficulty obtaining a loan from commercial lenders with strict requirements. They may have a cash down payment ready in their pockets and a steady income to pay monthly payments. Here, the potential buyers will benefit greatly from a for sale by owner situation where the seller wishes to provide owner financing.


For Sale By Owner Promissory Notes

If the seller decides to provide owner property financing, he or she should draw up a promissory note to set out the repayment plan. Promissory notes are important legal documents that can eliminate misunderstandings. Banks and mortgage companies always have borrowers sign real estate notes. In a for sale by owner situation where the owner will finance, the promissory note is highly recommended, but not required.

If a note is constructed properly, the seller may decide to shop the note to promissory notes buyers and earn immediate cash. He or she may decide to sell the note to pay for a second home, a car, or a vacation. Some sellers grow tired of collecting monthly payments, or never felt strongly about financing the loan in the first place. A threat of foreclosure can also drive the owner to sell the note.

Instant Credit Cards

Top 5 Instant Approval Credit Cards in 2021 - 100% Working


When applying for a credit card, it can often take a few days to get your card approved. This is because the credit card companies need to retrieve your credit history, then evaluate it to decide whether you are approved for their card. However, the Internet has sped this process up tremendously, and now you can get instant credit cards online.


How Instant Approval Works

In recent years, credit has been standardized to a common scale. This is commonly referred to as your credit score, and is a representation of the FICO score. Developed by the Fair Isaac Corporation, this is the score that credit reporting agencies use to determine whether you have good or bad credit. On a scale from 300 to 850, and score over 720 is usually considered good credit.

When you apply for a credit card online, the company calls up your credit score from an online credit reporting agency. It takes the FICO score given by the reporting agency and compares it to a base credit score to see if you qualify for the card that you apply for. If your credit score is greater than the score needed for the card, you are immediately issued a credit card.

There are snags in the system, though. Since credit fraud is at an all-time high, the automated system won’t accept an application with any discrepancies. If you have moved recently, or even if you have a typo in your application, you won’t get approved instantly. You can still be approved, though–the automated system just needs to forward your application to a person who can evaluate your credit.

Low Rate Credit Cards

Low rate credit cards - CommBank

When a credit card company loans a cardholder an amount of money, it keeps track of the amount that needs to be paid back. Since a company would make no money by simply lending and collecting, credit cards charge interest on the purchases made with the card.

Different cards have different interest rates, and these are referred to as the APR–Annual Percentage Rate.

The APR on a credit card will depend on a number of factors. The most important is your credit. Since people with good credit can have their choice of creditors, very low APR rates are reserved for those with outstanding credit. A scale increases APR in relation to the credit of the applicant, so that someone with average credit will have a slightly higher APR than someone with good credit, and so forth.


Getting the Best APR You Can

Another important factor in determining the APR on your credit card is the company that is issuing it. Credit card companies are competing against each other for business, and a sure way to draw more clients is to offer competitive interest rates. Even without perfect credit, you can get a good APR from a company that wants your business.

One thing to watch out for is a card with a low “introductory” APR. These cards offer a very low APR for the first few months, but then hike up the rates. Oftentimes, the established APR is hidden in the fine print, so make sure your APR is good for more than a few months before accepting a card.

Florida Home Loans

Florida Home Loans – Florida Home Mortgage Loans

Florida is an immensely popular place to retire, especially southern Florida. It’s warm, sunny and surrounded by white beaches and the ocean. What more could you ask for? Perhaps you are looking to retire. Perhaps you are buying your first home. Whatever the reason, if you are moving to a new area, there are some things for you to think about.


What’s Important to You

When moving somewhere unfamiliar, you’ll not only want to look at houses, but you’ll want to inspect the neighborhood as well. If you have children, find out about the local schools. A good real estate agent will not only be able to show you homes that are appropriate for you but should be able to tell you about local schools, doctors, grocery stores and community activities.

In addition, a good real estate agent can probably point you in the right direction of a mortgage company. It’s important that you check out several lenders. You’ll want to compare fees, interest rates and the general feeling you get from the company and the people who work there. You’re excited about getting a new home. It’s nice when your mortgage lender shares that excitement.

The law requires mortgage brokers to make you aware of any and all interest rates and fees before you even apply for a loan. You shouldn’t have to pay any of them until you have received your loan. Before you apply, get some basic information from the company in writing. Know how long they have been in business, their possible sources of money, a complete description of services they offer and the number of successful contracts in the last year.

Your Free Credit Report As A Negotiation Tool

Everybody knows the uses of a credit report. If you want to know where you stand, what your credit situation is, you need to obtain a copy of your credit report. Also, you will be able to correct any inconsistencies by disputing negative items on your report that you believe to be incorrect. However, not everybody knows that your credit report, can be used as a negotiation tool once you have a good credit.

When dealing with creditors, information is essential, though they may have information about you, they might not want to share it if it is beneficial for you. But if you can show proof of impeccable credit behavior, your arguments will have a higher weight. When negotiating with creditors it is not only important to know where you stand it is also essential to be able to prove it.

Obtaining A Free Credit Report

Each credit bureau provides credit reports for a fee to third parties but you can request your own credit report for free if you want to. According to the regulations, credit bureaus are obliged to provide you with a free copy of your credit report at least once a year. Therefore, if you want to know what your credit score is and what entries appear on your credit history you just need to contact each bureau and request your free credit report.

However, if you want to speed up the process since contacting each bureau and requesting your credit report can take some time, you can search online for free credit reports and you will find companies providing all your credit reports altogether. These online companies provide additional services like credit monitoring to prevent identity theft and negative entries appearing on your credit report without you knowing about them.

Negotiating With Creditors

Negotiation is always possible, whether your credit is in a good stance or not. When your credit is good, your negotiation tool is your ability to go somewhere else with your business and when your credit is in bad shape, your negotiation tools are the risk of default or bankruptcy that can imply huge loses for your creditors. Therefore, you can always negotiate provided that you know how.

When your credit is in good stance, a friendly call to your creditor inquiring about the possibility to reduce the interest rate charged may be enough. You can always tell them that you have received an offer from another lender or financial institution with a reduced rate and that unless you obtain some kind of positive response, you may decide to refinance your debt with them.

Your credit report can be an extremely useful tool in these cases as the representative may be unaware of your particular situation but surely has a copy of your credit report. And even if they do not, you can always fax them yours. Then, basing your claim on your report you can request more advantageous terms on your debt.

Credit Repair And Debt Consolidation Agencies

If you do not feel comfortable negotiating on your own, you can always hire the services of a credit repair or debt consolidation agency that will assist you in the process of improving your credit and renegotiating your debt.

Hand held credit card machines

Hand held credit card machines are a modern development that’s not just a fad. It is a smart way for a lot of businesses to get compensated more quickly and produce much better relationships together with their customers. It is really well suited for businesses that conduct the majority of their business away from office or perhaps at the customer’s site. As an example, plumbing technicians, painters and electrical engineers frequently fall under this particular category. The majority of people today are generally invoicing their clients later on or taking down the credit card information to be able to process it afterwards in the office or any other location. These two methods have got problems: By using invoicing, it could be a couple weeks prior to getting paid plus some customers may possibly never pay out! Documenting credit card details with regard to processing later isn’t good both for you and the customer. Your own credit card firm is charging you some sort of higher rate regarding transactions whenever the actual card will not be present. Your own customer can feel uncomfortable because you have their own credit card number and in addition they do not get to check out a receipt.

Hand held credit card machines will permit you to scan the credit card on-site, enter in the amount, and also process the financial transaction in realtime. You will be aware straight away whenever the financial transaction was successful, or maybe if it was unsuccessful since the card has expired or even canceled. You’re going to get paid straight away, and also pay out less for the merchant services supplier because you are eligible for the cards present rates. Your clients will undoubtedly be happy given that they benefit from the simplicity of paying using a credit card and so are relieved to confirm that you simply charged the proper amount and also have a receipt for his or her purchase instantly.

Basics of Credit Reporting

How Does It Work?

Your credit history is a reflection of how well you’ve managed your finances and repaid your debts over time. Credit reports from millions of borrowers are compared against each other using a computer program that analyses similarities, assigning a score report with weight given to varying factors. The score predicts how likely it is that you will repay future debt.

Factors Affecting Credit Rank

– Payment History (35%

– Amount of Debts Owed (30%

– Length of Credit History (15%)|

– Recent Credit (10%)

– Types of Credit (10%)

Keep Your Debt-To-Income Ratio at 20%

Creditors look for evidence that your monthly payments on non-mortgage debts take no more than 20% of your net (take home) monthly income. This is known as your debt-to-income ratio.

Credit History

Your credit history is pulled together into a credit report issued by three companies: Equifax, Experian, and Trans Union. These companies in turn, sell your credit report to lenders so they can review your past credit history.

Your credit report and credit score often vary somewhat from one company to another. Therefore, it’s important to regularly monitor your credit report from all three companies, checking for any inaccuracies.

What Included in Your Credit Report

– List of Debts, – Credit Cards, Car and Mortgage Loans

– Collection Items, such as Phone/Utility/Medical

– Public Records – Tax Liens, Bankruptcies

– Credit Inquiries ( An inquiry is made every time you request


The Cost of Credit – Monthly Payments and APR

The Truth in Lending Act requires lenders to disclose the Annual Percentage Rate (APR), on loan transactions. The APR is the amount you will pay in interest charges per year.

When looking at borrowing, consider how much the interest will cost, in addition to the loan amount and your ability to repay. The lower the rate, the better.

The Bottom Line

A good history will enable you to borrow more money at a lower cost. Try to pay your loan balances on the statement date, rather than the due date and have as much credit extended to you as possible,(this doesn’t mean you have to use it).

How to Get A Good Credit

Talking about credit is about trust.

The Credit Bureau of the United States consists of three companies:

Equifax, Experian and TransUnion, which generate each a score, in order to qualify individuals and to define what your level of credit.

The credit report determines and reports on current and past payments, delinquent or paid satisfactorily. Besides reports on balances of all accounts. Reports on the public records, liens, child support, unpaid taxes or bankruptcy, and additional details.

If you have no credit history will show you how you should build a credit alternative:

You show that you have paid rent dutifully, the same thing, energy, telephone, gas, phone, car insurance or any similar expenditure.

A good recommendation is that you must keep the checks for these payments, as well, that receipts. In addition you must have a lease in your name and ask where necessary letters to insurance companies, phone, power, gas, etc. in order to build your credit perfectly good alternative use for the purchase of your property.

You can apply for secured credit cards that different banks have available to you or enter any account as a co-signer. So start building your credit in the United States.

If you already have credit’ll recommend a few things I consider essential:

Everything is based on be very careful in handling and in respect of the various monthly payments that you make your bills.

0.Si the pay on time and delays in your payments you’ll acquire a good credit.

0.Si you’ve fallen behind in a payment, you should catch up and from there, ongoing maintenance paid.

0.Es important that you have in mind that if you missed a payment and then canceled, the pay does not make it disappear from credit report, which is why, you must be attentive to cancel an organized way and with much discipline, all payments of monthly bills.

I’m going to show the disadvantages faced by the credit:

  1. Paying the bills after the deadline.
  2. Accumulate too many cards with balances too high, even when you pay satisfactorily.
  3. Duty more than 50% of credit accounts or similar.
  4. Paying less than minimum amount
  5. Having overdue accounts and deliver them to a collection agency
  6. Impoundment
  7. Having bankruptcy

Advantages of having a credit Excellent

If you have good credit so you must keep well. If you’ve had various loans, credit cards and accounts and have paid on time, maybe you have an excellent credit history.

The advantages of having excellent credit are:

  • Establish a credit-based loans, credit cards or similar.
  • Not exceed credit limits and timely payment of accounts will give you a better position to purchase or refinance a house or a car.
  • You get any number of credit cards and can choose the most convenient for you and your family
  • You can buy anything you want (if qualified) to lower interest and lower fees.
  • You have all the confidence of different companies and people.

How important is your credit score and how does it affect you?

How Paying Off Student Loan Debt Affects Your Credit Score

Credit Score is a 3-digit number that helps judge your creditworthiness; the higher the score, the better for you. It is usually used by lenders, credit card companies and finance companies, when you apply for a loan. Normally, credit score is represented in between 300 and 850. Your chance of getting better interest rates on your credit increases, if your credit score is above 700.

FICO: Well known credit score model

FICO (Fair Isaac Corporation) is a publicly traded corporation, which has created the best known credit score model, and it is widely used. Your credit score is calculated statistically on the basis of the information from your credit files.

There are primarily 3 credit reporting agencies in US, namely Experian, Equifax and TransUnion. Equifax and TransUnion calculate your credit score on the basis of FICO model and you can view your FICO score from them. Though Experian also uses FICO model to calculate your credit score, yet you will not be able to access it. Experian has stopped this service from February 2009. However, your lenders will be able to know about your FICO score from Experian.

Your credit score: Its importance

You should value your credit score as it determines a number of important things in your life. The score decides how much a loan will cost you when you apply for a mortgage or other loans. The department and electronic stores will also offer credit based on your credit report. By the help of your credit score, the lenders try to assume how likely you will repay a loan amount. They also try to predict whether you will be able to make the monthly payments on time or not.

Factors affecting your credit score

Your credit score gets affected by a number of factors, which are discussed in the following lines.

  •  Your financial situation
    •    The history of your loan repayment
    •    Different types of your credit in use
    •    The amount of your outstanding debts
    •    Credit you have recently applied for

Raise your credit score

Don’t worry if you are not satisfied with your present credit score. You can improve it by following some measures, which are discussed below.

  1.  Always keep the documents of all your closed credit accounts; you might need them in future.
    2.    Try to pay your bills always on time.
    3.    Always review your credit report and consult credit bureau for necessary corrections, if required.
    4.    It is preferable to reduce your credit card balances to 25% of your available credit amount.
    5.    Don’t open any new credit card account before applying for a big loan, like mortgage.
    6.    Stop anyone making an enquiry about your credit score, unless it is inevitable.

Your credit score is not fixed and it gets altered with the changes in your credit report. Therefore, you should check your credit score at regular intervals to know about it and to improve it if required.

You can take the help of credit monitoring services and credit reporting agencies to know about your score.

Learn How to Improve Your Credit Score to Over 700+

The best thing that you can do is to improve your credit score and if you can get it to over 700 then that is even a bigger plus. Lenders are looking for people to give low interest loans to and the higher your score the better chance you have.

Find a Debt Expert Now

First what you need to do is to search through your credit report to see if there are any bad items that should not be there so you can get those removed. You can dispute any of those items that should not be on your credit report. You need to always keep on top of your report because it is your key to having good credit.

Get Free Help Eliminating Debt

Next you need to dispute all items that are incorrect on your credit report because the credit agency has to prove they they are legitimate items. If they can not verify them then they are required by law to remove these items and this will help your credit score to go up.

Finally the simplest thing that you can do is to always pay your bills on time. This will make your score go up the fastest and keep your interest rate down to the lowest. You can set out a plan so that you can make some adjustments to your budget to be able to pay off your credit card debt. When you make a plan it is easier to see where you can shift some of your expense to pay off those bills.